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Renminbisation des actifs internationaux de la Chine

  • Robert N. McCauley
  • Guonan Ma
  • Yin-Wong Cheung

[eng] Renminbisation of China’s international assets . Since the 2008 global financial crisis, China has rolled out a number of initiatives to actively promote the international role of the renminbi and to denominate more of its international claims away from the US dollar and into the renminbi. This paper discusses the factors shaping the prospects of internationalising the renminbi from the perspective of the currency composition of China’s international assets and liabilities. These factors include, among others, underlying valuation and management of the renminbi. . Classification JEL : F30, F31, F33, O24. [fre] Depuis la crise financière mondiale de 2008, la Chine a lancé plusieurs initiatives pour développer activement le rôle international du renminbi et pour libeller davantage de ses créances internationales en renminbi plutôt qu’en dollars. Cet article examine les facteurs qui influent sur les perspectives d’internationalisation du renminbi au vu de la composition en devises des avoirs et des engagements de la Chine. Ces facteurs incluent, entre autres, la valeur tendancielle et la gestion du renminbi. . Classification JEL : F30, F31, F33, O24.

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Article provided by Programme National Persée in its journal Revue d'économie financière.

Volume (Year): 95 (2009)
Issue (Month): 2 ()
Pages: 135-155

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Handle: RePEc:prs:recofi:ecofi_0987-3368_2009_num_95_2_5349
Note: DOI:10.3406/ecofi.2009.5349
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  9. Meese, Richard A. & Rogoff, Kenneth, 1983. "Empirical exchange rate models of the seventies : Do they fit out of sample?," Journal of International Economics, Elsevier, vol. 14(1-2), pages 3-24, February.
  10. Wendy Dobson & Paul R. Masson, 2007. "Will the Renminbi Become a World Currency?," Working Papers Series 10, Rotman Institute for International Business, Joseph L. Rotman School of Management, University of Toronto, revised Dec 2007.
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  12. Steven Dunaway & Lamin Leigh & Xiangming Li, 2009. "How Robust Are Estimates Of Equilibrium Real Exchange Rates: The Case Of China," Pacific Economic Review, Wiley Blackwell, vol. 14(3), pages 361-375, 08.
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